Vat

[Mossyo]

How do I access the vat taken from square?

[Breffni]

Hi @Mossyo, thanks for your post and welcome to the Seller Community. 

Do you mean the VAT taken on transaction fees? 

Of the fees set out in our Fee Schedule, Payment Services Fees account for 1.1% of each transaction with the remainder of the fees being SaaS (Software as a Service) Fees.

The total fee charged to you by Square is broken down into two parts, from two entities:

1. Squareup Europe Limited - our UK and FCA authorised legal entity that provides a VAT exempt supply of Payment Processing; and
2. Squareup International Limited - an Irish entity that provides a zero-rated (0%) supply of Risk Management, IP Licensing and other software services, or “SaaS Fees” as mentioned on our Fee Schedule. For this portion of the fee, if you are VAT registered in the UK, you can self-account for UK VAT under the reverse charge mechanism. This should be quoted at the bottom of our invoice with the narrative “Reverse Charge Notice: Under Article 44 and 196 of the EU VAT Directive, the place of supply is where the recipient is located”.

Let me know if this answers your question! 

[JCHawk]

what about if I misunderstood VAT and now know i'm not required to pay VAT. I have had 20% taken from every transaction and invoice for 2 years on squareup and want to know how I can have that refunded to me? As i've basically lost money on a charge that doesn't apply to me and i'm not required to pay.

[Breffni]

Hi @JCHawk, thanks for your post. 

VAT setup in Square is optional, and we are unable to provide specific VAT advice or consultations. It's important to note that VAT compliance is solely your responsibility, so unfortunately, we cannot issue refunds in this case.

For further clarity on your VAT obligations, we recommend reaching out to a professional tax adviser.

[JCHawk]

Hi thank you for responding. What would you suggest I say to my accountant? Does this fall under filing to refund vat from hmrc? Only I need to know what I need to ask and would appreciate any suggestions that you could given that might help.

[Breffni]

No problem @JCHawk. However, this is something that Square support may not be able to assist with.

I’m confident your accountant will be able to help if you provide them with a brief overview of the situation.

I hope this helps. 

[calcvat]

To access the VAT taken from Square transactions, follow these steps:

1. Log in to Square Dashboard: Go to your Square account and log in.
2. Navigate to Reports: Click on the "Reports" tab in the dashboard menu.
3. Sales Summary Report: Select the Sales Summary or Transactions report, where you'll see tax breakdowns, including VAT.
4. Filter by Date or Location: Customize the report to focus on specific timeframes or locations for clarity.
5. Download the Report: Export the report as a CSV file for further analysis of VAT collected.

Let me know if you'd like detailed instructions!
Additional: Calculate VAT from calcvat